Voluntary Early Retirement Program (VERP)

Bentley is offering a Voluntary Early Retirement Program (VERP) to eligible staff who may be willing to retire from the university in exchange for an enhanced severance benefit. The VERP and the previously announced changes to the faculty phased retirement plan create opportunities for individuals interested in retiring to do so now with enhanced benefits. As we monitor public health guidelines and predictions, review enrollment and retention projections, and prepare for the long-term higher education landscape, it is clear that Bentley will become a smaller institution in the months and years ahead. A VERP will provide an opportunity for voluntary retirements before considering any furloughs or layoffs.

Who can I talk to about my benefits?

Office Hours:

Sandy Smith, HR Senior Benefits Specialist, will be available for individual (virtual) appointments to help answer your benefit questions. Spouses, significant others, and family members are welcome to attend via Microsoft Teams. You can sign up for an individual appointment here.

*This meeting will be virtual. Sandy will call you at the start of your office hour slot through the Microsoft Teams App. To download and access this app. visit https://teams.microsoft.com. If you have any questions or need help navigating Microsoft Teams please call the HR Front Desk line at 781-891-3427.

*Please note all appointments are set to be 15 minute blocks so be prepared and come with questions. If you find you need more time please sign up for another slot.

Who can help me with retirement distribution options?

One on one's with TIAA & Fidelity Investments:

Representatives from TIAA and Fidelity Investments will be available to assist you. Sign up for available meeting dates here. You can also contact their customer service numbers:

TIAA‑ New York: 1‑800‑842‑2776 to speak with a retirement counselor or contact the Boston office for a retirement distribution meeting at 617‑227-2720.

If you want to understand important Social Security claiming strategies: Learn about strategies for claiming your Social Security benefit and how it fits with other income sources to create your retirement paycheck. Register here!

Prepare for the Reality of Health Care in Retirement: 5/21/2020 at 12:00pm EST

If you want a better understanding of health care in retirement: Learnaboutthe costs of health care in retirement and how you can prepare for them. Register here!

Additional Resources:

HealthAdvocate Healthcare Help- Bentley provides a free and confidential service to all employees and their spouses, dependent children, parents and parents-in-law to assist with health and eldercare related matters. HealthAdvocate is staffed with registered nurses, who can assist with insurance cost estimates, claims and appeals, finding the right doctors, scheduling appointments, understanding test, treatments and medications and more. Call 866.695.8622 for assistance.

Social Security- If you are planning on collecting Social Security benefits, you should contact your local Social Security office as soon as your separation date has been determined. The toll free number is 1-800-772-1213 or via web at www.ssa.gov